Flex Space with Heated
For Sale
$199,900
1984 Jefferson Street, Muskegon, MI 49441
A lobby, private office, and full bathroom with shower provide practical support space.
Property Size1,160 SF
Price / SF$172.33
Days on Market210
Property Features for 1984 Jefferson Street
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,787
Amenities
lobby area
private office
full bathroom with shower
heated garage
overhead door
Building Details
Building Size
1,160 SF
Year Built
2021
Units
1
Listing Agency:
Five Star Real Estate GH
(616) 414-9192
Listed By:
Mark D Vriesman
(616) 502-4541
Source:
Housewant
Added: Apr 6
Changed: Oct 27
Last Checked: Oct 31 at 3:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Five Star Real Estate GH
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Investment Insights
Based on property information with market context.
This 1,160-square-foot flex property was built in 2021 and includes a lobby, private office, and full bathroom with a shower. Its heated garage measures 20x30 and has a 10x10 overhead door.
The property is in Muskegon, Michigan. It was developed for cannabis distribution, and the layout also accommodates a range of commercial uses, including storage, warehousing, light manufacturing, machine shop work, and auto detailing. There are no HOA fees or restrictive bylaws.
The property is in Muskegon, Michigan. It was developed for cannabis distribution, and the layout also accommodates a range of commercial uses, including storage, warehousing, light manufacturing, machine shop work, and auto detailing. There are no HOA fees or restrictive bylaws.
Key Highlights
- 1,160‑square‑foot flex property built in 2021
- Heated garage measures 20x30
- 10x10 overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,511
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,220
$270.2K
Cap Rate 7%
$193,014
$193.0K
Cap Rate 9%
$150,122
$150.1K
Market Conditions
NOI Build-Up for 1,160 SF
Gross rent
$16.3K $14.04/SF
− Vacancy
−$391 −$0.34/SF
EGI
$15.9K $13.70/SF
− OpEx
−$2.4K −$2.06/SF
NOI
$13.5K $11.65/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,220
Cap Rate 7%
$193,014
Cap Rate 9%
$150,122
Alternative Uses
Best Use
Warehouse
$193.0K
$168.9K – $225.2K
NOI $13,511 @ 7.0% cap · market cap 6.76%
Second Best
Industrial
$159.0K
$139.1K – $185.5K
NOI $11,127 @ 7.0% cap · market cap 5.57%
Theoretical Best
Hotel Hospitality
$10.89M
$9.53M – $12.71M
NOI $762,552 @ 7.0% cap · market cap 381.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A lobby, private office, and full bathroom with shower provide practical support space.
Where is this flex space located?
The property is located at 1984 Jefferson Street Muskegon, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,160‑square‑foot flex property built in 2021; Heated garage measures 20x30; 10x10 overhead door
